U.Today – Rumors are circulating online regarding a potential reversal in China’s stance on (BTC). If this is true, it could have a big impact on the global cryptocurrency market. Mike Novogratz, a well-known investor in the crypto space, acknowledged the recent speculation and flagged its potential impact on theContinue Reading
Igor Kutyaev China’s retail sales rose by 2% year-on-year in June 2024, falling short of market forecasts of 3.3% and notably slowing from a 3.7% gain in the previous month, marking the 17th consecutive month of growth in retail trade, albeit the softest in the sequence. On a monthly basis,Continue Reading
Kevin Dietsch/Getty Images News U.S. President Joe Biden said European allies would curtail their investment in China if Beijing continues its “indirect help to Russia,” after NATO Secretary General Jens Stoltenberg declared that China is a “decisive enabler” of Russia’s war against Ukraine. Chinese President Xi Jinping should understand thatContinue Reading
vchal China’s trade surplus surged to $99.05 billion in June 2024 from $69.80 billion in the same period a year earlier, surpassing market expectations of $85 billion, marking the largest trade surplus since July 2022, as exports jumped while imports unexpectedly fell. In June, China’s exports surged 8.6% year-on-year, markingContinue Reading
Leon Neal/Getty Images News BP (NYSE:BP) will invest 353M yuan (~$48.5M) to acquire a 15% stake in Chinese renewable diesel and sustainable aviation fuel producer Lianyungang Jiaao New Energy, S&P Global reported Wednesday. Parent company Jiaao Enprotech has 100K metric tons/year of SAF capacity, and the deal comes amid risingContinue Reading
The Asia-Pacific equity market mostly in red on Wednesday as investors processed the latest inflation data from China. Investors also continued to assess Federal Reserve Chair Jerome Powell’s testimony before the Senate, while looking ahead to his appearance before the House later today. Japan (NKY:IND) +0.61%. The index hovers atContinue Reading
hapabapa Despite OpenAI blocking API access in China start this month, its AI models are still available to Microsoft (NASDAQ:MSFT) Azure Chinese customers, The Information reported. Azure, which operates locally via a joint venture, has made it clear that the OpenAI service is available in China, the news outlet reported,Continue Reading
dontree_m/iStock Editorial via Getty Images Android (NASDAQ:GOOG) (NASDAQ:GOOGL) devices and iPhones (NASDAQ:AAPL) are still seeing “heavy” levels of discounting in China after the country’s 6.18 holiday last month, investment firm Jefferies said, citing recent checks. “Our industry checks indicate China’s smartphone vol still grew [high-single digits year-over-year] after 618, drivenContinue Reading
DKart Passenger car sales in China dropped for the third consecutive month in June despite price reductions and government incentives, highlighting a persistent weakness in consumer demand. June experienced a 6.9% decline in vehicle sales compared to the last year. Previously, May saw a 2.2% drop, and April saw aContinue Reading
Pixelbizz/iStock Editorial via Getty Images ASML’s (NASDAQ:ASML) CEO Christophe Fouquet said that chip buyers, including Germany’s car industry, need older generation computer chips which Chinese chip manufacturers are currently investing in, Reuters reported citing Fouquet’s interview with German newspaper Handelsblatt. Fouquet’s comments comes amid the European Commission, or EC, startingContinue Reading
